Author: startnet
In a significant boost to Tamil Nadu’s manufacturing technology ecosystem, Bengaluru-based manufacturing platform Zetwerk has secured $90 million in fresh funding, elevating its valuation to $3.1 billion. The funding round, led by prominent investors Rakesh Gangwal and Khosla Ventures, marks a substantial increase from the company’s previous valuation of $2.7 billion in 2023. The latest investment round also welcomed new investor Baillie Gifford, while existing backers Greenoaks and Avenir Growth reinforced their commitment to the manufacturing technology platform. This funding success underscores the growing importance of Tamil Nadu’s role in India’s manufacturing transformation, as Zetwerk continues to expand its presence…
In a significant development for Tamil Nadu’s direct-to-consumer (D2C) ecosystem, hair care brand Arata has successfully raised ₹33 crore ($4 million) in a Series A funding round led by Unilever Ventures, the venture capital arm of global consumer goods giant Unilever. The investment, which values the company at ₹195 crore post-money, also saw participation from L’Oréal’s venture fund Bold and existing investor Skywalker Family Office. The Chennai-based startup, founded in 2018 by Dhruv Madhok and Dhruv Bhasin, has established itself as a pioneer in developing specialized hair care solutions tailored for Indian hair types. The company’s innovative approach to hair…
In a significant development for India’s fintech sector, Mumbai-based Veefin Group of Companies has successfully raised ₹136 crore ($16 million) in its latest funding round, while simultaneously announcing plans for an additional ₹155 crore ($18 million) fundraise by January 2025. This substantial capital injection, secured from capital market investors, marks a pivotal moment in the company’s growth trajectory and its mission to revolutionize supply chain finance technology. The funding comes at a strategic time for Veefin, which has been actively expanding its portfolio through strategic acquisitions. The fresh capital will be deployed across three key areas: accelerating product development initiatives,…
Chennai, December 19, 2024 – Shares of food delivery powerhouse Swiggy witnessed a notable uptick of 1.7% today, reaching Rs 587.30 on the BSE, following JP Morgan’s bullish coverage initiation. The global investment firm’s ‘overweight’ rating and ambitious target price of Rs 730 highlights Swiggy’s emerging position as a formidable player in India’s local services landscape, particularly significant for its expanding presence in Tamil Nadu’s competitive delivery market. The positive market response comes as JP Morgan identifies Swiggy as an “underappreciated dark horse” in the Indian local services ecosystem, emphasizing the company’s enhanced execution capabilities in both food delivery and…
In a significant move that underscores the growing global attraction to India’s vibrant startup ecosystem, KRAFTON India has emerged as the anchor investor in the newly launched IMM India Fund. This strategic partnership between the South Korean gaming powerhouse and IMM Investment, a prominent investment firm managing approximately $7 billion in assets, aims to propel growth-stage Indian startups across critical technology and consumer-focused sectors. The collaborative initiative marks a pivotal moment for Indian entrepreneurship, particularly in technology hubs like Tamil Nadu, which has been rapidly emerging as a breeding ground for innovative startups. By committing around $170 million to Indian…
In a significant milestone for the Tamil Nadu startup ecosystem, HostBooks, a leading cloud-based accounting and compliance solutions provider, has secured $5 million in funding from Orange Orbit LLP. The investment marks a crucial moment of growth for the Chennai-based technology company, signaling strong investor confidence in its innovative approach to solving complex business financial challenges. The funding comes as part of the company’s ongoing Series B round, with $2.5 million already disbursed in the first tranche. Founded in 2009 by entrepreneurs Kapil Rana and Biswajit Mishra, HostBooks has established itself as a pioneering force in leveraging artificial intelligence and…
In a groundbreaking financial milestone that underscores the transformative power of artificial intelligence, Databricks has secured a staggering $10 billion in funding, catapulting its valuation to $62 billion. This unprecedented investment round represents one of the largest venture capital raises in recent history, reflecting the insatiable appetite for cutting-edge AI technologies that are reshaping the global business landscape. The funding round, led by Joshua Kushner’s Thrive Capital, drew an impressive consortium of elite investors, including tech heavyweight Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management. The oversubscribed round also welcomed new participants like ICONIQ Growth, MGX, Sands…
In a significant milestone for Tamil Nadu’s burgeoning startup ecosystem, Mili, an innovative AI-driven meeting assistant platform, has secured $2 million in seed funding. The investment, led by prominent venture capital firms Chiratae Ventures and BoldCap, signals a growing appetite for artificial intelligence solutions in the financial technology sector.The funding round saw participation from a strategic group of investors, including Sparrow Capital, SFMG Wealth Advisors, Gregg Fisher of Quent Capital, and Better Capital. This diverse investment pool underscores the strong market potential and investor confidence in Mili’s innovative approach to streamlining workflow management for wealth management firms.Transforming Wealth Management through…
In a remarkable turnaround for the Indian digital payments landscape, One97 Communications (Paytm) has achieved a significant milestone by closing above the Rs 1,000 share price mark for the first time in three years. The stock’s impressive performance, with a 2.32 percent rise, has catapulted the company’s market valuation to an impressive Rs 64,184 crore, marking a pivotal moment for the fintech giant.The surge comes on the heels of strategic moves that have reinvigorated investor confidence. Most notably, Paytm’s recent sale of its stake in Japanese payments company PayPay for Rs 2,364 crore has been a game-changer, substantially strengthening the…
In a significant development for the Indian startup landscape, the Competition Commission of India (CCI) has granted approval to global private equity firm KKR to acquire a stake in Rebel Foods, a pioneering cloud kitchen startup headquartered in Chennai, Tamil Nadu. The transaction, which has been cleared under the green channel route, marks another milestone in the rapidly evolving food technology sector. The approval comes on the heels of Rebel Foods’ impressive Series G funding round of $210 million, led by Temasek, highlighting the startup’s robust growth trajectory and investor confidence. KKR’s subsidiary, Royce Asia Holdings, is set to acquire…